Expansion in the East remains a hot topic in gaming, and there is no sign of the Chinese market slowing down anytime soon. Perfect World, the company who recently acquired Cryptic Studios, has announced their admission into a venture capital fund to the tune of $100 million. The fund will primarily look to expand upon technological developments as well as other media and telecommunication pursuits.
In total, over $100.77 million will be invested into the fund, with the main goal to push through to “high-growth potentials” not necessarily tied to the gaming industry.
"We are very pleased to start the process to invest in a TMT-focused venture capital fund,” said Michael Chi, chairman and CEO of Perfect World.
"We believe our extensive knowledge in the industry and our own growth experience will enable us to better analyze and capture the significant market opportunities. We're also excited about the potential synergies we can achieve with our portfolio companies through this venture capital fund, which we believe will help us further build up our user base and strengthen our online platform."
Perfect World has announced that a consolidated firm within the company will handle the fund alongside as of yet undisclosed partners.
